April 18, 2001 in Social Responsibility News

SAMSUNG SDS Invests in Chemis, Korea Solutions Center, and Patech 21

Samsung SDS (CEO: Hong-Ki Kim) announced on Feb. 5 that it signed the first strategic partnership contracts in 2001 with 3 venture companies: Chemis (CEO: Byung-hyung Park), Korea Solutions Center (CEO: Sung-bum Park) and Patech 21 (CEO: Jae-ha Kim) as part of its Mega Venture investment program in venture companies. At the same time, Samsung SDS unveiled its 30 billion won Mega Venture investment program.

"Mega Venture" is Samsung SDS' venture program for investments in venture firms within and outside the company to foster venture companies. It comprises of:
▶ venture firms within Samsung SDS (Mega Port),
▶ venture firms outside Samsung SDS (Mega Partner),
▶ a fund for Samsung SDS employees to invest in the venture companies (Mega Fund), and
▶ a network to integrate the above 3 ingredients.
"Mega Venture" symbolizes Samsung SDS' need to become a mega-venture organization and that the venture companies in which it invests will grow exponentially their values.

The venture firms which signed capital alliances are Chemis, which provides legacy modernization solution services; Korea Solutions Center, an information technical architecture (ITA) services company; and Patech 21, an e-marketplace provider for industrial equipment. Among them, Chemis is the only Korean legacy modernization solution provider, translating conventional languages into JAVA to enable e-business. The company, founded in 1998, is regarded as a promising venture company and has a presence in San Jose, Calif. Samsung SDS and the company have agreed to jointly enter the legacy modernization industry, which is estimated to be worth 500 billion Won in 2000.
Korea Solutions Center, a solutions company established in 1999, dominates the information technical architecture sector, which has recently become one of the hot areas in the IT industry. Samsung SDS plans to apply the company's solutions in its large systems integration projects.
- Patech is an e-marketplace solution company, which provides B2B solutions for industrial equipment. It was founded in Jan. 2000 and has more than 4,000 small and medium enterprises as members. It is the industry leader with competitiveness in auction systems, including reverse auctions.

"Investment in promising venture companies will continue from last year," Sang-jin Park, General Manager of Samsung SDS Venture Unit said, "Once we invest in a company, we'll provide all possible assistance with our analysts, visiting them every other week to solve their difficulties together."

Venture companies that would like to receive funding can click on Samsung SDS' homepage (www.sds.samsung.com) or call the Venture Unit at 81-2-3019-6030.

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